Taking everything into account, TPH scores 5 out of 10 in our fundamental rating. TPH was compared to 60 industry peers in the Household Durables industry. While TPH has a great health rating, its profitability is only average at the moment. TPH has a valuation in line with the averages, but on the other hand it scores bad on growth.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

TPH had positive earnings in the past year.
TPH had a positive operating cash flow in the past year.
In the past 5 years TPH has always been profitable.
Each year in the past 5 years TPH had a positive operating cash flow.

1.2 Ratios

Looking at the Return On Assets, with a value of 6.22%, TPH is in line with its industry, outperforming 60.00% of the companies in the same industry.
TPH has a Return On Equity of 9.39%. This is comparable to the rest of the industry: TPH outperforms 53.33% of its industry peers.
TPH's Return On Invested Capital of 6.45% is in line compared to the rest of the industry. TPH outperforms 43.33% of its industry peers.
TPH had an Average Return On Invested Capital over the past 3 years of 10.20%. This is in line with the industry average of 9.52%.

		Industry Rank	Sector Rank
ROA	6.22%
ROE	9.39%
ROIC	6.45%

ROA(3y)9.52%

ROA(5y)9.28%

ROE(3y)15.16%

ROE(5y)15.46%

ROIC(3y)10.2%

ROIC(5y)10.07%

1.3 Margins

The Profit Margin of TPH (8.27%) is better than 71.67% of its industry peers.
In the last couple of years the Profit Margin of TPH has grown nicely.
Looking at the Operating Margin, with a value of 10.40%, TPH is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
TPH's Operating Margin has improved in the last couple of years.
TPH has a worse Gross Margin (22.20%) than 68.33% of its industry peers.
TPH's Gross Margin has improved in the last couple of years.

		Industry Rank	Sector Rank
OM	10.4%
PM (TTM)	8.27%
GM	22.2%

OM growth 3Y-5.72%

OM growth 5Y7.18%

PM growth 3Y-4.72%

PM growth 5Y8.69%

GM growth 3Y-2.33%

GM growth 5Y2.47%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), TPH is creating some value.
TPH has less shares outstanding than it did 1 year ago.
The number of shares outstanding for TPH has been reduced compared to 5 years ago.
Compared to 1 year ago, TPH has an improved debt to assets ratio.

2.2 Solvency

An Altman-Z score of 3.88 indicates that TPH is not in any danger for bankruptcy at the moment.
TPH has a Altman-Z score of 3.88. This is in the better half of the industry: TPH outperforms 61.67% of its industry peers.
The Debt to FCF ratio of TPH is 4.34, which is a neutral value as it means it would take TPH, 4.34 years of fcf income to pay off all of its debts.
TPH's Debt to FCF ratio of 4.34 is in line compared to the rest of the industry. TPH outperforms 55.00% of its industry peers.
TPH has a Debt/Equity ratio of 0.36. This is a healthy value indicating a solid balance between debt and equity.
With a Debt to Equity ratio value of 0.36, TPH perfoms like the industry average, outperforming 45.00% of the companies in the same industry.

		Industry Rank	Sector Rank
Debt/Equity	0.36
Debt/FCF	4.34
Altman-Z	3.88

ROIC/WACC0.74

WACC8.74%

2.3 Liquidity

A Current Ratio of 9.02 indicates that TPH has no problem at all paying its short term obligations.
TPH has a Current ratio of 9.02. This is amongst the best in the industry. TPH outperforms 90.00% of its industry peers.
A Quick Ratio of 1.99 indicates that TPH should not have too much problems paying its short term obligations.
With an excellent Quick ratio value of 1.99, TPH belongs to the best of the industry, outperforming 85.00% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	9.02
Quick Ratio	1.99

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

The earnings per share for TPH have decreased strongly by -29.67% in the last year.
Measured over the past years, TPH shows a very strong growth in Earnings Per Share. The EPS has been growing by 26.86% on average per year.
Looking at the last year, TPH shows a very negative growth in Revenue. The Revenue has decreased by -16.60% in the last year.
TPH shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.82% yearly.

EPS 1Y (TTM)-29.67%

EPS 3Y5.7%

EPS 5Y26.86%

EPS Q2Q%-45.76%

Revenue 1Y (TTM)-16.6%

Revenue growth 3Y4.1%

Revenue growth 5Y7.82%

Sales Q2Q%-25.74%

3.2 Future

TPH is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -15.26% yearly.
The Revenue is expected to decrease by -8.56% on average over the next years.

EPS Next Y-41.41%

EPS Next 2Y-30.62%

EPS Next 3Y-15.26%

EPS Next 5YN/A

Revenue Next Year-23.15%

Revenue Next 2Y-16.48%

Revenue Next 3Y-8.56%

Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

TPH is valuated reasonably with a Price/Earnings ratio of 9.84.
Based on the Price/Earnings ratio, TPH is valued a bit cheaper than 78.33% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 28.32. TPH is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 14.35, the valuation of TPH can be described as correct.
TPH's Price/Forward Earnings is on the same level as the industry average.
TPH is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 25.57, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	9.84
Fwd PE	14.35

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, TPH is valued a bit cheaper than the industry average as 61.67% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, TPH is valued a bit cheaper than 80.00% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	10.57
EV/EBITDA	7.74

4.3 Compensation for Growth

The decent profitability rating of TPH may justify a higher PE ratio.
A cheap valuation may be justified as TPH's earnings are expected to decrease with -15.26% in the coming years.